Invest Like a Millionaire??

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Okay, from time to time here on the podcast, we like to respond to questions. I try to be as clear as I possibly can in regards to the things we’ve been teaching for a while. And I talk about our process at Markowski Investments and how we go about rules of the road when it comes to investing and putting money away and building wealth. And basically what building wealth is all about is being able to take advantage of opportunities throughout life and enjoy your life.

And one of the things, one of our rules of the road is invest, invest like you’re a millionaire or invest like you’re wealthy. Might be a better way of putting it. I got a question from one of our listeners. I heard you say the term invest like you’re rich quite a few times. Can you spend a little time detailing exactly what you mean? Okay. What do I mean? What do really wealthy people do?

You see wealthy people, you oftentimes see wealthy people become destitute. I mean, truly wealthy people. Not people that are wealthy on the facade that have got tons of debt and all sorts of issues. Do you ever see them ever become broke, busted and disgusted? No. I’m going to go over this. I thought about it a little bit, this scene from a movie.

Again, I love to use pop culture and it’s kind of, it’s a bit of an obscure movie. So Mark Wahlberg movie from, geez, I don’t know, almost 10 years ago and John Goodman’s in it. It’s called the, the name of the movie is The Gambler. And I went, I went back and I watched, I watched the scene. I watched the scene and I, I had to pull, I got to pull up. And again, I’m not going to say all the swear words. There’s a lot of swear words in this. My mother would kill me.

So Mark Wahlberg is a degenerate gambler. He is what he is and he’s meeting with a loan shark and is played by John Goodman. And the loan shark says to him, I need to know if you’ve got the blanking brains to walk when it’s time to walk. People don’t, you know, ballplayers that can’t play anymore.

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A -holes trying to maintain a standard of living not possible anymore. A lot of those around. I’ve seen people be up a half a million dollars. Gambler says, well, I’ve been up two and a half million dollars. What you got on you, said the loan shark. Gambler, played by Mark Wahlberg, nothing. What did you put away? What did the gambler say? Nothing. So the loan shark said, you get up.

You get up $2 .5 million. Any a -hole in the world knows what to do. You get a house with a 25 -year roof, an indestructible economy blank box car, and you put the rest into the system at 3 % to 5 % and you pay your taxes. That’s your base. Get me? That’s your fortress of blanking solitude. That puts you…

for the rest of your life at a level of blank you.

someone wants you to do something, blank you. Boss pisses you off, blank you. Own your house, have a couple bucks in the bank, don’t drink. That’s all I have to say to anybody. And this gambler’s grandfather was one of the wealthiest people in California. He asks him, he says, did your grandfather take risks? And the gambler says, yes. And what did the loan shark said? I guarantee.

he did it from a position of blank you. A wise man’s life is based around blank you. The United States of America is based upon blank you. You’re a king, you have an army, you have the greatest Navy in the history of the world, blank you. The United States was founded upon the position of blank you. Our grandparents and great grandparents arranged their lives from the position of blank you.

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And again, that’s the scene and you can go and you can watch. I want to swear. Okay. But why am I talking about this? This is what’s been lost.

This is what’s been lost. Something’s been lost, okay? Nobody wants to live the wise person’s life, okay? I’ve talked about this all the time. I said, you wanna get to a position in life where you depend on yourself.

You depend on yourself. The country is going to be freaking out because again, we don’t have any really good leadership right now. We really don’t. Either side of the coin, once ignoring the problems at hand. Let’s go 10 years out. 10 years out, Social Security is going to be cut by 25%.

I care? Well, do I care in the what it’s going to do to the country? Yes. Is it going to change my life at all? No. But going back to the 1990s.

1990, again, we were the Gen Xers, the younger generation, I was warning my generation, I said, listen, don’t count on Social Security, don’t rely upon others for things in life, take care of yourself. You don’t want to be dependent upon others for anything.

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You want to get to the point in time where you want to work. You don’t have to work. But you want to. You can do things whenever you want to do them.

And it doesn’t matter. You own your own life. Your stuff doesn’t own you. You have control over things. Again, this is part of the problem. People watch and see on Instagram and social media, and this one has this, and this one has that, and they don’t own anything. They don’t have it. They put it on their credit cards, which is almost like being a degenerate gambler to some degree. You’ve got nothing.

Do wealthy people do that?

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wealthy people to. Again, what was that? It’s just several years ago. I remember some kids, you know, talking about NFTs, non -fungible tokens and this and that and what they were doing, how they’re getting with it. I said, that’s all speculation. Yeah, but did you see so and so? The movie star is getting involved in this and, you know, they’re touting it. I’m like,

with the coins that they have from their couch.

If they lose it, they don’t care. Let’s go. Remember Larry David and Matt Damon with crypto? Few years ago, the thing was what $70 ,000 a coin. They’re pitching that thing. And do you think that Matt Damon and Larry David took their net worth and gambled?

on crypto, something speculative. Can they take risk? I’m sure that they probably put some money into it. I’m sure they did. They lost it. So what? No big deal. They move on. But they’ve got their base. They’ve got their wealth. It gives you the opportunity to take advantage of opportunities as they come along. But you have to get to that point in time.

Do wealthy people, are they gonna delve into their fortress of blanking solitude like John Goodman said? No way.

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No way, no how. So if you want to know what investing like a wealthy person or a millionaire, that’s what I mean. That’s what I’m getting across. And I don’t think I said a single swear word throughout that entire thing. Mom should be proud of me. Watchdog on wallstreet .com.